Moderator: Nicole Marie
dai bread wrote:...collecting monstrous bonuses on the way.
dai bread wrote:I'll have to read the European news more carefully. I didn't think Cameron or anyone else in Britain had any intention of joining the Eurozone, especially not now.
In our interconnected financial world, it would be very odd indeed if no U.S. institutions were affected by this.”
“Today the U.S. gross federal debt stands at around 100 percent of GDP. Four years ago it was 62 percent. By 2016 the International Monetary Fund forecasts it will be 115 percent. Economists who should know better insist that this is not a problem because, unlike Italy, the United States can print its own money at will. All that means is that the U.S. reserves the right to inflate or depreciate away its debt. If I were a foreign investor—and half the debt in public hands is held by foreigners—I would not find that terribly reassuring.”
dai bread wrote:Weimar Republic, anyone?
...afterword who would lend them money?
dai bread wrote:My reference to Weimar wasn't to GDP, but to the printing of money and the seemingly consequent hyper-inflation.
I suspect the supply of money, printed or fiat, is controlled better than it was in the late 1920s. I hope so, anyway.
Here’s a key one: Nations reach a point of no return when the number of people mooching off government exceeds the number of people producing.
Giant Communist Robot wrote:Economically EU nations are pretty much the equivalent of U.S. states. They are in similar boats.
]THE EU was ridiculed last night after it took three years to issue a new rule that water cannot be sold as healthy.
In a scarcely believable ruling, a panel of experts threw out a claim that regular water consumption is the best way to rehydrate the body…
… no water sold in the EU can now claim to protect against dehydration. Any producer breaching the order, signed by European Commission President Jose Manuel Barroso, faces being jailed for up to two years. It took the 21 scientists on the panel three years of analysis into the link between water and dehydration to come to their extraordinary conclusion.
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